QuantumScape, a startup battery company that says its batteries charge to 80% in 15 minutes, almost twice as fast as the Tesla Model 3 battery, is being backed by Bill Gates and Volkswagen.
The California-based company raised more than $700 million by going public via a reverse merger earlier this year and lists Volkswagen as its largest shareholder. Performance data suggest QuantumScape’s solid-state batteries could offer about 50% more miles than the same electric car with current commercial battery technology.
The startup wants to help make electric vehicles affordable, charge faster, and safer.
But the startup has yet to prove it can mass manufacture the product.
Still, the stock jumped 28% Wednesday morning after the company released technical data on its battery technology.
''I’ve not seen data this good anywhere else,'' Stan Whittingham, a professor of chemistry at Binghamton University in New York and co-winner of the 2019 Nobel Prize in chemistry reportedly said at a panel on Tuesday according to The Hill. ''You just have to make the cells bigger, get them into cars.''
Gates, the co-founder of Microsoft and one of the world’s richest men and most prolific philanthropists, has spent a decade investigating the causes and effects of climate change.
In one of his blog posts, he said electrical vehicles could make the biggest difference in the fight for climate change.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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